Tyco Int'l Q3 Adj. EPS Tops View - Quick Facts

(RTTNews) - Swiss security products maker Tyco International Ltd. (TYC) Friday said third-quarter net income attributable to ordinary shareholders plunged to $156 million or $0.37 per share, from $1.5 billion or $3.11 per share in the comparable quarter last year.

Income from continuing operations for the latest third quarter dropped 53% to $0.44 from $0.93 in the prior year.

Adjusted earnings per share from continuing operations were $0.59, while it totaled $0.54 last year. On average, 15 analysts polled by Thomson Reuters expected earnings of $0.56 per share for the quarter. Analysts' estimates typically exclude special items.

Net revenue decreased 6% to $2.49 billion from $2.66 billion last year, primarily due to a 7% negative impact of the stronger U.S. dollar against foreign currencies. Organic revenue declined 1% in the quarter. Analysts expected revenues of $2.52 billion for the quarter.

Looking ahead, the firm expects fourth-quarter earnings per share before special items of $0.60 - $0.62. Analysts expect earnings per share of $0.63 for the quarter.

For full year 2015, the company tightened its earnings before special items to a range of $2.23 to $2.25 per share, from the previous projection of $2.23 to $2.27. Wall Street looks for fiscal year earnings of $2.23 per share.